Refinance a Home Loan
Refinance a Home Loan
Lower Your Rate, Reduce Your Payment
Fixed-Rate Mortgage Loans
With a fixed-rate mortgage loan, the interest rate remains the same throughout the term of the loan. Depending on your needs, the term can range from 5 to 30 years. This payment stability makes budgeting finances easier and is a great option if you plan to stay in your home for a longer period of time. This loan can be used for a home purchase or refinance.
Adjustable-Rate Mortgage Loans
With our adjustable-rate mortgage loan (ARM), the interest rate is fixed for the first period of 5, 7, or 10 years, then adjusts up or down annually following the fixed period. An ARM offers a lower interest rate and payments for the first years of the mortgage, allowing an initial lower payment. This is a great option to consider if you plan to move or refinance your mortgage within the first 10 years.
Both offer:
- Competitive rates and fees
- No-points and no-closing costs options¹
- No prepayment penalty
- No negative amortization
- Options for refinancing Second/Vacation homes and Investment/Rental homes
- Opportunity to borrow equity
Compare Home Refinance Loans
Fixed-Rate Mortgage |
Adjustable-Rate Mortgage |
|
Loan Options |
||
Transaction Type |
Home Refinance |
Home Refinance |
Mortgage Size |
Conforming or Jumbo |
Conforming or Jumbo |
Potential to Cash Out Equity |
✔️ |
✔️ |
Refinance Mortgage Loan to Value |
Up to 97% for |
Up to 97% for |
Benefits |
||
No points options |
✔️ |
✔️ |
No closing costs options¹ |
✔️ |
✔️ |
No pre-payment penalty |
✔️ |
✔️ |
No negative amortization |
✔️ |
✔️ |
No upfront costs options |
✔️ |
✔️ |
Term Options |
||
Fixed Rate Period |
Up to 30 years |
5, 7, or 10 years |
Adjustable Rate Period |
N/A |
Up to 25 years |
Residence Types |
||
Primary Home |
✔️ |
✔️ |
Second/Vacation Home |
✔️ |
✔️ |
Investment/Rental Home |
✔️ |
✔️ |
Best Option For |
Borrowers planning to stay in the home long-term and who are seeking payment stability for predictable budgeting. |
Borrowers prioritizing a lower initial rate in order to have a lower monthly payment and who will likely move or refinance within the first 10 years. |
Fixed-Rate Mortgage |
Adjustable-Rate Mortgage |
|
Loan Options |
||
Transaction Type |
Home Refinance |
Home Refinance |
Mortgage Size |
Conforming or Jumbo |
Conforming or Jumbo |
Potential to Cash Out Equity |
✔️ |
✔️ |
Refinance Mortgage Loan to Value |
Up to 97% for owner-occupied property |
Up to 97% for owner-occupied property |
Benefits |
||
No points options |
✔️ |
✔️ |
No closing costs options¹ |
✔️ |
✔️ |
No pre-payment penalty |
✔️ |
✔️ |
No negative amortization |
✔️ |
✔️ |
No upfront costs options |
✔️ |
✔️ |
Term Options |
||
Fixed Rate Period |
Up to 30 years |
5, 7, or 10 years |
Adjustable Rate Period |
N/A |
Up to 25 years |
Residence Types |
||
Primary Home |
✔️ |
✔️ |
Second/Vacation Home |
✔️ |
✔️ |
Investment/Rental Home |
✔️ |
✔️ |
Best Option For |
Borrowers planning to stay in the home long-term and who are seeking payment stability for predictable budgeting. |
Borrowers prioritizing a lower initial rate in order to have a lower monthly payment and who will likely move or refinance within the first 10 years. |
View registered Mortgage Loan Originators
This is not an offer for an extension of credit or a commitment to lend. All applications are subject to borrower and property underwriting approval. Not all applicants will qualify. Limited to funding California properties only.
¹For no-closing-costs option; borrower pays no closing costs, except for recurring costs such as: property taxes, insurance, and loan interest.
²For a residence type of Primary Home. Please contact a Mortgage Loan Consultant to learn of the lowest down payment for other residence types.
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